Public sector bank operations across the country were paralysed for the second day in a row as over one million employees stayed away from work.
A two-day nationwide strike, called by the United Forum of Bank Unions to protest against bank mergers and to demand a wage revision, hit customers hard as they were unable to carry out their normal banking transactions.
Several bank branches were shut in Mumbai and other cities, with employees staying off work.
Customers were unable to withdraw cash today as automated teller machines (ATMs) of most lenders, including State Bank of India, Punjab National Bank, Canara Bank, Bank of India and Corporation Bank, ran out of cash at certain locations. Clearing operations, real time gross settlement (RTGS) and forex transactions were also hit for the second day today.
In Mumbai alone, transactions worth more than Rs 35,000 crore were hit because of the strike, according to Lalit Nagda, the general secretary of the Maharshtra State Federation of Bank Unions. The union was among the eight associations that had called the strike.
“Everyday 300,000 to 350,000 instruments are traded in Mumbai,’’ he added.
United Forum of Bank Unions Convenor C H Venkatachalam said the agitation would be intensified further if the Indian Banks’ Association (IBA), the apex body of banks, failed to address their concerns in due time.
He warned that banks might go for more than a two-day strike next time.
A bank union controlled by the Bal Thackeray-run Shiv Sena failed to join the strike as it was not invited to participate in the initial round of discussions for the protest.
The strike did not hit treasury operations of banks as officers were not a part of the stir.
However, volume of transactions in the money market was down due to an overall liquidity crunch, said a senior executive at Union Bank of India.
Central Bank of India saw 23 per cent attendance of its total 39,000 employees. The All India Bank Officers Confederation said no transactions took place on the second day.
A few branches, like the Nariman Point branch, of Union Bank of India were partially functioning with employees who had not joined the strike.
